Just shut up, ok. You had me at disinflation.
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55 comments
Comments feed for this article
Thursday ~ October 6th, 2011 at 4:12 pm
Monetary Policy, Protest Style - NYTimes.com
[...] Monetary Policy, Protest Style Unsophisticated protestors, my — actually, I can’t say that in a Times blog, and I probably can’t post the picture either. But I can give you this link. Somebody has been doing their homework! [...]
Thursday ~ October 6th, 2011 at 4:20 pm
JERRY BORIS
THESE STREET RABBLE WOULD NOT KNOW WHAT MONETARY POLICY IS.
JERRY BORIS
Thursday ~ October 6th, 2011 at 4:34 pm
rcallahan
NO, but Krugman does!
Thursday ~ October 6th, 2011 at 4:56 pm
Bart
Pound salt. Don’t Boris.
Thursday ~ October 6th, 2011 at 7:43 pm
davidfsnyder (@davidfsnyder)
Ah, but Jerry, these ‘street rabble’ do not how to turn off caps lock, and are completely aware that caps lock is a worthless attempt to grab unwarranted attention for oneself.
Thursday ~ October 6th, 2011 at 5:22 pm
Rod Proctor
Thank you, Paul!
Thursday ~ October 6th, 2011 at 4:13 pm
FT Alphaville » Further further reading
[...] – Same question, shorter answer. [...]
Thursday ~ October 6th, 2011 at 4:26 pm
Becky Hargrove
Jerry Boris, You had just better hope that these street rabble have a chance to learn what monetary policy is, and how important money is, so that they will not be won over by arguments to dispense with money altogether. THINK ABOUT IT.
Thursday ~ October 6th, 2011 at 9:10 pm
Not street rabble
“Street rabble”. As opposed to the rabble on Wall St, who, according to the Academy Award winning “Inside Job”, use prostitutes and live out-of-control personal lives (not to mention the fact that they rated toxic debt “AAA” and then sold it to their customers and had to be bailed out for $700bn).
The people at “Occupy Wall Street” knows what they want. They want their country back from the people who stole it from them!
It’s the details of how to do that that have to be worked out.
But the purpose is clear.
They want their country back! And that includes their land, their air and their water, their jobs, their education, and more. And when they get that, lots of other people around the world will get their countries and their futures back, too.
That’s why people all over the world are cheering for them – have a look at the European news, even if you can’t understand what they’re saying, they’re reporting on “OccupyWallSt”, more than the US mainstream media is doing!
Friday ~ October 7th, 2011 at 12:18 am
U_M
Not in Sweden, though – here we are taught from the mainstram media that this is not really news. What these people do is propaganda from the left and therefore wrong, wrong wrong.
Thursday ~ October 6th, 2011 at 4:27 pm
decentralizedimprov (@decentralimprov)
worldwide bank equity & sovereign treasury debt wants to go to ZERO. the fact that the Fed, ECB & other central wankers refuse to let it deflate is inflation.
the sign for the real protest: incompetent contra-deflation : the death of fiat currency
Friday ~ October 7th, 2011 at 11:53 am
thomas
So basically, we should let the market have a recession, because the market has told us that it wants a recession?
No, we should take concrete steps to keep inflation and employment on target. If the market is feeling attracted to a different path, redirect it back to the path of human happiness.
Friday ~ October 7th, 2011 at 4:55 pm
decentralizedimprov (@decentralimprov)
these government promises are worthless. the prices we pay every day to support them & the financial sector debt upon which they are built are not supportable. the only thing the central planners can do is dig us in a further hole for some short term contracting work or try to inflate another bubble. the stimulus always has withdrawals & bubbles always burst. trying to inflate this stuff any more and fight reality will end all of us up in a very bad place: the end of the $.
what we need is to get serious about a sustainable scope of government we can actually pay for & let all of these decades of crazy bubbles be written off. then, we can have sustainable growth in industries you and I (not some government employees) choose to support. will it be painful in the short term? yes, but short term pain is certainly preferable to a currency collapse.
Saturday ~ October 8th, 2011 at 11:44 pm
R-cubed
you sound like you think ‘the market’ is a live thinking animal, but actually it is a very complicated mathematical formula that simply people can’t fathom. So why do you think you can take the correct steps to fix it? Are you smarter that all the world full of people that have tried and failed every time (in the long run).
Thankfully we have a democracy so that no one philosophy can ruin everything. No it takes both sides to ruin everything.
Thursday ~ October 6th, 2011 at 4:39 pm
Pam Price
To be sure the protest has the attention of quite a few of the “people” in congress and on the hill. The Reps will twist it their way… The Dems will twist it their way. And the Fed will twist it their way…Ops… He already did..good for you Ben.
Thursday ~ October 6th, 2011 at 9:45 pm
Jim Kay
That’s like claiming all the twists are the same. Shows that you know nothing about the truth.
Thursday ~ October 6th, 2011 at 4:47 pm
Some Guy
It’s telling that these geniuses are the best Obama can send into the streets.
Thursday ~ October 6th, 2011 at 4:56 pm
EMichael
You have some proof that Obama is sending these people into the streets?
Y’know, like I can prove the Tea PArty is funded by corporations?
Thursday ~ October 6th, 2011 at 10:51 pm
Merus
If Obama sent them, why do they oppose Obama fpr the craven way he caved to Wall Street influence? Not everything is a liberal conspiracy, dude.
Thursday ~ October 6th, 2011 at 4:56 pm
morebrocato
So… what economist is going to declare that “Forgiving all debt” “immediately” is (a) “sophisticated”, or (b) economically sound?
This is but one demand of the Occupy Wall Street movement.
Thursday ~ October 6th, 2011 at 6:05 pm
morebrocato
That’s what I thought.
Thursday ~ October 6th, 2011 at 7:43 pm
Goldcap
I am! I’m an economist with the Heritage Foundation, and I find all “taxation” a form of non-interest bearing debt obligations. So cut my taxes, and we’ll all austerity to a better future.
Oh, and interest rates still at record lows… time to buy gold
Thursday ~ October 6th, 2011 at 9:46 pm
Jim Kay
If I was one of those total liars from Heritage, I sure wouldn’t want to tell anyone that.
Friday ~ October 7th, 2011 at 7:02 am
Tel
Paul Krugman has already come out in support of debt forgiveness, although he has suggested that inflation be the vehicle to achieve this.
Needless to say, I wouldn’t be saying this other than for the opportunity of saying that I personally disagree, but you are welcome to your own opinions.
Sunday ~ October 9th, 2011 at 4:45 am
R-cubed
I thought Paul was of the opinion that debt is good for a country? So why forgive such a good thing?
Thursday ~ October 6th, 2011 at 5:07 pm
Max Out
Hey Boris, willful ignorance, racist nihilistic spite and gratuitous insults have made the Tea Party the phenomenon it is today.
Thursday ~ October 6th, 2011 at 5:12 pm
Jeff
You righties are absolutely fabulous! You complain about anyone who doesn’t buy into the religion of the failed free market, free trade, and trickle-down theories. We’re in the situation we’re in because of policies based on those failed theories supported by economists who acted as priests rather than scientists of human behavior and nature.
The fundamental fact is that the economy is imaginary and is made up in our minds. Pretending that ideologies are concrete fact can lead only to failure, which is what happened. These protestors see that fact and they threaten your world, it’s that simple.
Thursday ~ October 6th, 2011 at 5:25 pm
MikeH
What Jeff said!
Thursday ~ October 6th, 2011 at 5:58 pm
decentralizedimprov (@decentralimprov)
our biology is to be free & interact with others to make up a spontaneous order (http://youtu.be/TlzilMXWMcg) what has failed the USA is the fatal conceit that a group of elitists can centrally plan & force some higher order.
Friday ~ October 7th, 2011 at 1:30 am
Calvin Ross
You can take your Hayek and put it, well let’s just say that you don’t even believe what you’re saying. People plan. Do you like Macs or PCs? Doesn’t matter. People planned, schemed, planned, developed, and voila, Macs and PCs. Same with economies and markets, free or regulated. You can put your Hayek…
Friday ~ October 7th, 2011 at 8:39 am
tarjei v
To Calvin Ross: Wonderful! I´ll remember this one the next time I meet a decentralizedimprov-person. Heh heh, put your Hayek….
Thursday ~ October 6th, 2011 at 5:28 pm
Rod Proctor
Three decades of GOP “economics” is what got us here. They set out to bring us back to the Gilded Age and wildly succeeded — in destroying the middle class.
Thursday ~ October 6th, 2011 at 6:00 pm
Bob
Actually, you’re half the time span off. We’re “paying” today for the willfully ill-conceived policies of the 1960s: The over-reach of the Great Society coupled with three major wars, Viet Nam, on Poverty, and on Drugs – all of which collapsed in colossal failure – which committed the nation to an economic path that was clearly unsustainable from the start. No administration, Republican or Democrat, nor any Congress, no matter which party controlled it, has done anything to change course along that path. If for this along, neither party is worthy of public blessing nor your support.
Thursday ~ October 6th, 2011 at 6:21 pm
Rod Proctor
Bob: You are correct about the wars; but it’s not the Great Society that got us to this point. It’s the emergence of “trickle-down” which came with Reagan, that did. What Bush Senior rightly called at the time “voodoo economics.”
Thursday ~ October 6th, 2011 at 6:48 pm
burningfeet
As I recall, Brother Lyndon paid for that damn Viet Nam war with a phone tax and ran the last balanced budget until Mr. Clinton arrived.
Friday ~ October 7th, 2011 at 1:50 pm
mikeVA
The Budget of 1961-1962 was a great example of fiscal abuse – kissing the ass of tax lawyers and wealthy people. So yes, 1960 is an example of today’s abuse of power!
Sunday ~ October 9th, 2011 at 5:01 am
R-cubed
3 years of GOP economists put us here by employing spendthrift policies. Don’t forget why the GOP fell so hard in 2006- they failed to uphold the ideas that conservatives and other working people value; Fiscal Responsibility.
Thursday ~ October 6th, 2011 at 5:57 pm
rjsigmund
youre in good company:
http://krugman.blogs.nytimes.com/2011/10/06/unsavvy-people/
Joseph Stiglitz and author Jeff Madrick address the “Occupy Wall Street” protesters…
http://dailybail.com/home/video-nobel-prize-winning-economist-joseph-stiglitz-addresse.html
(no sound systems allowed, so speech must be repeated by crowd for all to hear)
Thursday ~ October 6th, 2011 at 5:59 pm
MG
Maybe the revolution really won’t be televised. Maybe it will be covered by the internet instead.
Thursday ~ October 6th, 2011 at 7:19 pm
Seth
Turns out the revolution will be tweeted, friended and tumblr’d.
Friday ~ October 7th, 2011 at 7:05 am
Tel
Maybe let’s just wait till there is a revolution, huh?
Thursday ~ October 6th, 2011 at 8:14 pm
Nicolas
Reading those comments is kind of pathetic… My father is stronger than yours blablabla
Thursday ~ October 6th, 2011 at 8:59 pm
Ronald Calitri
Even Bacteria have Cheaters!
Thursday ~ October 6th, 2011 at 11:52 pm
IbnWarraq
LOL Liberals actually believe Clinton ran a “balanced budget” very ignorant. They think sticking a bunch of I.O.Us in the Social Security Lockbox where there used to be real money, counts as a balanced budget.
Friday ~ October 7th, 2011 at 12:05 am
Rod Proctor
Perhaps you’ve been watching a bit much of Fox. He ran the first year-to-year surpluses since Andrew Jackson. Check it out.
Are you on Karl Rove’s or Dick Armey’s payroll?
Friday ~ October 7th, 2011 at 12:14 am
Rod Proctor
I apologize for my final sentence.
Friday ~ October 7th, 2011 at 7:08 am
Tel
I’ve admitted before that I’m too ignorant to understand the various US federal government accounts. What I do wonder about is why they needed to increase the debt ceiling immediately after the years of Clinton surplus. Can you explain why this would be necessary?
Friday ~ October 7th, 2011 at 5:30 am
Rod Proctor
One more quick comment: Those “IOUs” sitting in that file cabinet in West Virginia represent the full faith and credit of the United States — something the GOP did their best to destroy recently, and damn near succeeded.
Friday ~ October 7th, 2011 at 3:41 am
gonzo marx
don’t apologize, Rod….it’s an astute question, considering the sheer volume of sock puppets utilized by corp run political operations…
folks, this is pure history, not rocket surgery…a previous commenter is correct, the economic disasters we are suffering under are predictable results of the “voodoo economics” arising from the “trickle down” theory espoused by the wall street journal editorial page during the late 70′s and labeled “supply side economics”…by deregulating the financial sector and steadily eroding the safety measures put in place after the Depression, Wall street and it’s lackeys have systemically dismantled and sold off the U.S. industrial base and the Middle Class for their own profits as well as the power to continue the looting….
those who deny these simple and historical facts are either ignorant of the empirical data or suffer delusions due to cognitive dissonance…the only other explanation available is that they are directly profiting from this debacle in one way or another….anyone who attempts to tell or sell you any different explanation for an inaccurate or inadequate explanation for the current situation is LYING to you…check your wallet after dealing with such vermin
woe is U.S.
Friday ~ October 7th, 2011 at 5:09 am
Rod Proctor
I just don’t like impugning people’s motives absent evidence. Which is what I did.
You are absolutely correct about the empirical historical data. Which today’s GOP doesn’t give a flip about. It’s become the party that denies all forms of empirical data across a range of issues.
Friday ~ October 7th, 2011 at 12:27 pm
James
OPPORTUNISTIC disinflation? Opportunistic? What are you talking about? Is there some concensus now that the rentiers (aka, bankers, crooks, Wall Street, Malafactors of Great Wealth, Masters of the Universe, etc. etc.) are actually trying to use the current economic situation to INDUCE DEFLATION, so that their assets, in real terms, will actually increase in value? That’s ridiculous! That’s preposterous! That’s … that’s … uh … plausible. Or, put another way, is it implausible that these greedy SOBs wouldn’t consider doing something like that? If you’d asked in the laste-1990s whether this was reasonable, most people would have said no, but look what’s actually happened in the past decade.
Friday ~ October 7th, 2011 at 1:54 pm
“Opportunistic Disinflation”?? What the…? | not an economist
[...] what about the Fed and the state of employment? Apparently an Occupy Wall Street demonstrator has the answer (via Paul Krugman). LD_AddCustomAttr("AdOpt", "1"); LD_AddCustomAttr("Origin", "other"); [...]
Friday ~ October 7th, 2011 at 2:04 pm
mikeVA
I like this democracy thing. I’m might start building nets used at places like Foxcon. We should sever the Bush Tax Cuts, sever the mis-allocation of resources, take our supply of money back, and we’ll handle our credit and money ratios properly.
Sure, slight down-turn, and people will continue making stuff and the people like Erin Burnett’s husband. Well, I have a net to sell for when they jump because of their “@#itty” deal behind our money and their copy-paste black-scholes.
Saturday ~ October 22nd, 2011 at 3:58 am
Club Troppo » What if Oz is partially occupied already?
[...] this or this might be applying to work with ASIC, the local version of this to the Treasury, or this to the RBA. Someone who cares as much about inequality as this person in Australia could spend a [...]
Thursday ~ February 28th, 2013 at 9:45 am
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